3 ms·
either 1 or 2 weeks per year of service is pretty normal for a buyout - 2 weeks is more seen in forced layoff, but I suspect this package is targeted at people
by Aloha 7y ago
either 1 or 2 weeks per year of service is pretty normal for a buyout - 2 weeks is more seen in forced layoff, but I suspect this package is targeted at people near retirement, hence the lower value.
- alistairSH 7y agoAgreed on both points. My main point was that none of this is legally mandated at the federal level (though there may be state laws or union contracts at play depending on who is being let go). I've also seen severance plans that are variations on... (2 weeks pay) + (1 weeks pay * years service)